Core Insights - Interparfums, Inc. reported record results for the fourth quarter and full year ended December 31, 2024, achieving a diluted EPS of $5.12 and reaffirming its 2025 guidance with a 7% increase in cash dividend [1][9][15] Financial Performance - Fourth quarter net sales reached $362 million, a 10% increase from $329 million in 2023; full year net sales were $1.452 billion, also a 10% increase from $1.318 billion in 2023 [2] - Gross margin for the fourth quarter was 64.5%, slightly down from 64.7% in 2023; for the full year, gross margin improved to 63.9% from 63.7% [2][10] - Operating income before impairment loss was $40 million for the fourth quarter, up 112% from $19 million in 2023; for the full year, it was $279 million, an 11% increase from $251 million [2][12] - Net income attributable to Interparfums, Inc. was $24 million for the fourth quarter, a 133% increase from $10 million in 2023; for the full year, net income was $164 million, up 8% from $153 million [2] Brand Performance - The top six brands, which account for approximately 70% of net sales, saw sales growth of 5% in the fourth quarter and 4% for the full year [5] - Key markets such as North America, Western Europe, and Asia/Pacific reported sales increases of 6%, 21%, and 3% respectively for the full year [5] - The brands Lacoste and Roberto Cavalli exceeded $115 million in sales during their first year under Interparfums' management, indicating strong demand [7] Strategic Outlook - The company plans to launch new product lines and extensions in 2025, including its first proprietary niche brand, Solférino, expected to debut in summer 2025 [8] - Interparfums anticipates continued growth in the prestige and luxury fragrance market, supported by a solid level of reorders in the first half of 2025 [8] Dividend and Guidance - The Board of Directors approved a 7% increase in the annual cash dividend rate to $3.20 per share, reflecting confidence in the company's financial strength [15] - The 2025 guidance projects net sales of $1.51 billion and EPS of $5.35, representing a 4% increase for both metrics [14]
Interparfums, Inc. Reports Record 2024 Fourth Quarter and Full Year Results